Student Loans from The Mississippi Higher Education Loan Authority
About Mohela
The Missouri Higher Education Loan Authority is one of the top student loan servicing companies in the United States. The not-for-profit company works in conjunction with the Missouri Department of Higher Education to service nearly half-a-million student loans at any one time.
Mohela has been buying and servicing student loans for over 20 years. While the number of student loan holding companies has exponentially grown in this time, many lenders and educational institutions rely on those companies with experience and devotion to the purpose of making higher education accessible for all individuals.
Loan Products and Services
Mohela services student loans for all the typical federal student loans. Students can manage loan accounts for their Stafford, Perkins, or PLUS loans. Stafford loans are one of the most affordable federal loans. Access the FAFSA application online or ask for one to be mailed to you.
Alternative loans offered by Mohela are comparable to alternative (or private) loans from student loan lending institutions. Mohela's CASHLoans program provides a number of different types of alternative loans. There are CASHLoans for undergrads, grads, law students and medical students. Alternative loans are used to augment federal student loan awards that typically fall significantly short of covering the cost of college. College costs involve many more factors than just tuition. Just as costly are expenses incurred for books, food, computers and even transportation.
A number of unique programs offered by Mohela include the "Public Service Reward Program". This is program extends notable discounts and interest rate reductions on Mohela student loans to public service personnel working in the state of Missouri. Qualifying individuals include police officers, teachers, nurses and all state of Missouri employees.
"Rate Relief" is a program for Missouri students and is designed to significantly lower student loan interest rates for Stafford or Perkins loans. Discounts are typically between 2% and 3%.
Consolidation
Are you a graduate trying to juggle the burden of multiple loan repayments? Mohela extends a student loan consolidation program that eliminates your risk of defaulting on your student loan repayment. Student loan consolidation is commonplace. Take advantage of the opportunity to roll all your student loans into one easy, low monthly payment. Consolidation, while it makes payments more manageable, can also significantly extend the life of your loan.
